By Barrientos                                          S.B. No. 184
         76R3875 CAG-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the student loan program administered by the Texas
 1-3     Higher Education Coordinating Board; authorizing the issuance of
 1-4     bonds.
 1-5           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-6           SECTION 1.  Section 52.81(2), Education Code, is amended to
 1-7     read as follows:
 1-8                 (2)  "Bond" means a general obligation bond issued by
 1-9     the board under Article III, Section 50b-3, [or] 50b-4, or 50b-5 of
1-10     the Texas Constitution.
1-11           SECTION 2.  Section 52.82(a), Education Code, is amended to
1-12     read as follows:
1-13           (a)  The board may by resolution authorize the issuance of
1-14     general obligation bonds in total aggregate amounts not to exceed:
1-15                 (1)  $300 million under Section 50b-3, Article III,
1-16     Texas Constitution; [and]
1-17                 (2)  $300 million under Section 50b-4, Article III,
1-18     Texas Constitution; and
1-19                 (3)  $400 million under Section 50b-5, Article III,
1-20     Texas Constitution.
1-21           SECTION 3.  Section 52.87, Education Code, is amended to read
1-22     as follows:
1-23           Sec. 52.87.  MANDAMUS.  The performance of official duties
1-24     prescribed by this subchapter and Article III, Sections 50b-3,
 2-1     [and] 50b-4, and 50b-5 of the Texas Constitution, in reference to
 2-2     the payment of the bonds, may be enforced in a court of competent
 2-3     jurisdiction by mandamus or other appropriate proceedings.
 2-4           SECTION 4.  This Act takes effect on the date on which the
 2-5     constitutional amendment proposed by the 76th Legislature, Regular
 2-6     Session, 1999, providing for the issuance of $400 million in
 2-7     general obligation bonds to finance educational loans to students,
 2-8     takes effect. If that amendment is not approved by the voters, this
 2-9     Act has no effect.
2-10           SECTION 5.  The importance of this legislation and the
2-11     crowded condition of the calendars in both houses create an
2-12     emergency and an imperative public necessity that the
2-13     constitutional rule requiring bills to be read on three several
2-14     days in each house be suspended, and this rule is hereby suspended,
2-15     and that this Act take effect and be in force according to its
2-16     terms, and it is so enacted.